AI's impact on emerging risk management trends

AI is exploding, particularly as large language models (LLMs) have infiltrated everyday life. Almost every new mainstream product seems to promote some usage of AI, and industry after industry is being transformed by its capabilities. But despite AI’s potential, some sectors have been slow to adopt it. Risk management is one of them. Fortunately, that is starting to change. According to a 2023 Deloitte study, only 1.33 percent of insurance companies had invested in AI. Data from this year indicates a shift is underway. In Conning’s 2024 survey, 77 percent of respondents indicated that they are in some stage of… [Continue Reading]